TL;DR: Bitcoin’s RSI divergence shows weakening downside momentum, hinting at a potential shift toward potential recovery. Short-term holders offloaded 30.9K BTC to exchanges, taking realized losses worth about $3.3 0 negative exchange netflows point to accumulation, reducing supply available for immediate selling 1 Divergence on the Chart Bitcoin is showing early signs of a possible reversal after its latest 2 price has fallen from above $114,000 to around $111,500, making lower 3 the same time, the Relative Strength Index (RSI) has moved higher, forming a bullish divergence on the 2-hour 4 Merlijn The Trader commented: $BTC JUST FLASHED A BULLISH 5 made lower 6 made higher 7 the dump… momentum is 8 is where reversals are 9 — Merlijn The Trader (@MerlijnTrader) September 23, 2025 Higher closes following the drop suggest momentum is starting to move away from 10 the moment, Bitcoin is trading near $112,700 with a daily volume close to $49 11 has slipped slightly in the last 24 hours and is down 4% over the past 12 immediate support range sits between $111,500 and $113,000.
Merlijn pointed to two potential outcomes. “AFTER THE DUMP COMES OPPORTUNITY. $BTC just gave us the setup legends wait for,” he 13 one scenario, Bitcoin holds above support and rebounds toward $124,000. In the other, the level breaks, sending price lower into the $102,000–$104,000 range before staging a recovery toward $120,000.) September 23, 2025 Data indicates about 30.9K BTC was moved to exchanges within 24 hours at a realized loss of roughly $3.39 14 activity reflects capitulation from recent 15 past cycles, similar loss-taking events at key levels have aligned with local bottoms, as long-term holders absorb supply from weaker 16 Netflows Show Outflows Exchange netflow data adds further 17 recent weeks, large outflows have dominated, with several days exceeding 20,000 BTC leaving 18 the latest decline to $112,000, outflows spiked close to 30,000 BTC.
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